Common use of DWAC ELIGIBLE Clause in Contracts

DWAC ELIGIBLE. The Company shall attempt to continue to satisfy the DWAC Eligible Conditions (as defined below). After such date, the Company shall notify the Purchaser in writing if the Company at any time while the Purchaser holds Securities becomes aware of any plans of the Company’s transfer agent (the (“Transfer Agent”) to voluntarily or involuntarily terminate its participation in the DTC/FAST Program. While Purchaser holds Securities, the Company shall at all times after the Closing Date maintain a transfer agent which participates in the DTC/FAST Program, and the Company shall not appoint any transfer agent which does not participate in the DTC/FAST Program. Nevertheless, if at any time the Company receives a Conversion Notice and all DWAC Eligible Conditions are not then satisfied (including without limitation because the Transfer Agent is not participating in the DTC/FAST Program or the Conversion Shares are not otherwise transferable via the DWAC system), then the Company shall instruct the Transfer Agent to immediately issue one or more certificates for Common Stock without legend in such name and in such denominations as specified by the Purchaser and consistent with the terms and conditions of the Transaction Documents, the rules of its principal market, and federal securities laws.

DWAC ELIGIBLE. The Company shall attempt to continue to satisfy specifically covenants that, as of February 14, 2015 and at all times thereafter until the Note is repaid in full, all DWAC Eligible Conditions (as defined below)will be satisfied. After such date, the The Company shall notify the Purchaser Buyer in writing if the Company at any time while the Purchaser Holder holds Securities becomes aware of any plans of the Company’s transfer agent (the (“Transfer Agent”) Agent to voluntarily or involuntarily terminate its participation in the DTC/FAST Program. While Purchaser Holder holds Securities, the Company shall at all times after the Closing Date maintain a transfer agent which participates in the DTC/FAST Program, and the Company shall not appoint any transfer agent which does not participate in the DTC/FAST Program. Nevertheless, if at any time the Company receives a Conversion Notice and all DWAC Eligible Conditions are not then satisfied (including without limitation because the Transfer Agent is not then participating in the DTC/FAST Program or the Conversion Shares are not otherwise transferable via the DWAC system), then the Company shall instruct the Transfer Agent to immediately issue one or more certificates for Common Stock without legend in such name and in such denominations as specified by the Purchaser Holder and consistent with the terms and conditions of the Transaction Documents, the rules of its principal market, and federal securities laws.